US Inflation falls to 3-year low, clearing the way for Fed to begin cutting rates

August 15, 2024

The lowest year-over-year inflation in more than three years was recorded in July at 2.9%, as reported by the Labor Department. Consumer prices rose just 0.2% from June to July. As housing costs are expected to rise more slowly, and the job market is weakening, the Federal Reserve might consider cutting interest rates in September.

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